Inventory Control in MicrosofT Dynamics GP 10.0
Course 8816: One day; Instructor-led
Introduction
The Microsoft Dynamics GP Inventory Control course explores all aspects of the Inventory module from the initial setup of inventory items and the multiple methods of valuation supported, to the types of inventory transactions available and the tight integration to the Purchase Order Processing and Sales Order Processing modules.
You learn how to control inventory challenges and maximize your company's net profits based on the way you do business. This course shows you how to define default inventory account numbers, COGS, variances, sites, product classes, valuation methods and more, which will improve efficiency and cut down on costly data entry errors. This course shows you how to group items for pricing, promotional, or analytical purposes and by type, such as finished goods, raw material, component, and more. You learn how to quickly find information such as inventory quantity on hand, quantity available, quantity on back order, costs, and list prices, and where to drill down to transaction details. You learn how to manage multiple sites, multiple bins within sites, negative quantities, and lot/serial numbers. You see how Lot/Serial Number tracking is streamlined during inventory transaction entry.
You can simplify entry and reconciliation of physical inventory counts with a variety of options.
Audience
Inventory Control training is recommended for anyone who plans to implement, use, maintain, consult, or support any part of the Inventory and Order Processing series. The class is targeted toward administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Inventory Control and gain foundational knowledge of the application functionality.
At Course Completion
After completing
this course, students should be able to:
• Understand
how Inventory Control module transactions integrate with other Dynamics
GP modules and improve your business bottom line
• Use
the Inventory Control module to process receipts, make adjustments to
inventory, and transfer transactions
• Use
Inventory Control inquiry screens and reports to extract and analyze appropriate
information to maintain and improve inventory business processes
• Create
and assemble kits
• Understand
how maintenance screen options affect transactions in the Inventory module
• Process
physical inventory transactions and record the results
• Document
month end processes and close the Inventory module
• Define
setup options for the Inventory module that allow you to customize your
system to better fit your organization's unique needs
Prerequisites
Before attending
this course, students must have:
• General
knowledge of Microsoft Windows
• Knowledge
of basic navigation functions in Microsoft Dynamics GP
• Completion
of General Ledger, Receivables Management, and/or Payables Management
training course required
Microsoft Certified Professional Exams
No Microsoft Certified Professional exams are associated with this course currently.
Course Materials
The student materials include a comprehensive workbook and other items necessary to complete the course.
Course Outline
Chapter 1: Overview and General Setup
This chapter introduces you to the Inventory Control module of the Microsoft Dynamics GP product and training course, and the screens and processes that are used to complete the accounting cycle in Inventory.
It is important to note that this chapter is optional and can be skipped at the instructor's discretion if the instructor feels that each student's background provides sufficient experience in these topic areas.
Main Topics
• Course
Description
• Module
Overview
• Process
Flow
• Inventory
Setup
• Unit
of Measure
• Price
Levels
• Prices
Groups
Labs
• Inventory
Setup
• Unit
of Measure Schedule Setup
• Price
Level, Price Group Setup
• Lot
Category Setup
• Stock
Calendar
After completing
this chapter, students should be able to:
• Understand
the goals of this course
• See
how the Inventory Control module fits into the suite of available modules
for the Dynamics GP system
• Set
up Inventory defaults throughout the Inventory Control module
Chapter 2: Setup Procedures
This chapter examines the setup options available in the Inventory Control module. We introduce each of the required steps along with recommended options for various business models. This chapter discusses each option in detail and provides examples to better illustrate concepts.
Main Topics
• Procedures
for Setting up Inventory Items
• Item
Classes
• Inventory
Items
• Price
Lists
• Inventory
Quantities
• Bins
• Purchasing
• Vendors
• Kits
• Lot
Categories
• Beginning
Quantities
• Stock
Calendar
Labs
• Item
Class Setup
• Accounts
Setup
• Item
Site Maintenance
• Item
Maintenance
• Item
Price List
• Item
Quantities/Site Maintenance
• Item
Site Default Bins
• Item
Quantity Stock Count
• Item
Purchasing Options Maintenance
• Item
Vendor, Customer Maintenance
After completing
this chapter, students should be able to:
• Personalize
Inventory Management using the Inventory Setup windows
• Add
Item Classes
• Set
up items codes and characteristics to better track throughout the system
• Enter
Beginning balances
Chapter 3: Inventory Control Daily Procedures
This chapter introduces the main Inventory transaction screens. An inventory transaction is processed whenever an inventory item's quantity or cost information changes. You gain an understanding of how Inventory transactions can be used to record issues and returns, to adjust quantities and costs, and to move items from site to site and bin to bin. You review the process by which Inventory transactions are released to the General Ledger depending on your posting setup. You also examine the methods for performing physical inventory counts. You see how to complete a full physical inventory and the various options available for selecting items to include in a cycle count.
Main Topics
• Inventory
Batch Posting
• Inventory
Single Posting
• Changing
Quantity Types
• Cost
Variance Journals
• Adjustment
Transactions
• Variance
Transactions
• Transfer
Transactions
• In-
Transit Transfers
• Stock
Counts
Labs
• Increase
Adjustments
• Variance
Transaction
• Transfer
Transaction
• In-Transit
Transaction
• Stock
Count Schedule
• Stock
Count Entry
• Multi
Bin Adjustment/Transfers
After completing
this chapter, students should be able to:
• Differentiate
between Batch posting and Transaction Posting
• Different
Methods of posting
• Enter
Inventory Transactions (posting to General Ledger), Inventory Transfers,
and Inventory Variances
• Generate
and Enter Stock Counts
• Transfer
items
Chapter 4: Editing and Retrieving Records
This chapter discusses how to make cost, valuation, and price adjustments to existing items in your system. You also see how to delete item records when necessary.
You review a series of screens available for viewing inventory item balances and easily drilling down to the transaction details. The Inquiry screens allow you to quickly view item information without having to print reports. You also discuss the Inventory detail retention and deletion options.
Main Topics
• Change
and Delete Records
• Change
Valuation Methods
• Change
Decimal Places
• Adjust
Costs
• Remove
History
• Remove
Bins
• Reconcile
• Price
List Utilities
• Item
Inquiries
• Creating/Printing
Inventory Reports
After completing
this chapter, students should be able to:
• Change
Valuation Methods, Costs, and Prices of existing items
• Remove
Bins
• Delete
Item records
• Remove
Historical Data
Chapter 5: Period and Year-End Procedures
This chapter examines the process of closing an accounting period and the fiscal year for the Inventory Control module. The steps necessary to complete each phase of the closing process is discussed for the end of a period as well as a fiscal year. You look at the reports that should be printed before performing the closing process. Time is spent examining what actually takes place during the closing process and approaches that an organization may use for this process.
Main Topics
• Period-end
Checklist
• Printing
Reports
• Completing
ABC Analysis
• Closing
the Fiscal Period
• Year-end
Closing
After completing
this chapter, students should be able to:
• Complete
the processes that are performed at the end of an accounting period
• Complete
the processes that performed at the end of a fiscal year
• Perform
the Year-end closing process for Inventory Control
Appendix A: Job Aides
This appendix illustrates the process flow and integration of the Inventory Control module. A checklist is provide to help users setup their inventory control system. A list and descriptions of inventory reports is also available in this appendix
Main Topics
• Process
Flow
• Integration
• Setup
Checklist
• Inventory
Reports
Appendix B: Case Study
This case study is a comprehensive lab that can be used to reinforce the learning that has occurred throughout the Inventory Control class.
Main Topics
• Inventory
Control Setup
• Inventory
Control Document Entry
• Printing
Inventory Control Documents
After completing
this chapter, students should be able to:
• Understand
the necessary processes to set up and manage their Inventory Control module
• Have
more confidence in their ability to use Inventory Control in their company
For more information or to give feedback, send e-mail to info@OneApex.com or call 949-597-2100
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